Kraken Robotics (OTCMKTS:KRKNF) Shares Down 7.8% – Should You Sell?

Shares of Kraken Robotics Inc. (OTCMKTS:KRKNF) traded down 7.8% during trading on Wednesday . The stock traded as low as $4.36 and last traded at $4.37. 482,980 shares changed hands during trading, a decline of 65% from the average daily volume of 1,389,412 shares. The stock had previously closed at $4.74.

Wall Street Analysts Forecast Growth

Separately, Scotiabank raised shares of Kraken Robotics to a “strong-buy” rating in a report on Tuesday, July 7th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

Kraken Robotics Trading Down 6.6%

The firm has a 50 day moving average of $5.13 and a 200-day moving average of $5.70. The company has a market cap of $1.64 billion and a P/E ratio of -442.80.

Kraken Robotics (OTCMKTS:KRKNF) last posted its quarterly earnings results on Thursday, May 28th. The company reported ($0.01) earnings per share for the quarter. The business had revenue of $15.60 million during the quarter, compared to analyst estimates of $18.30 million.

About Kraken Robotics

Kraken Robotics Ltd. is a marine technology company headquartered in St. John’s, Newfoundland and Labrador, Canada. The company specializes in the design, development and manufacture of advanced underwater robotic platforms and sensor systems. Kraken’s solutions are built to support a range of subsea activities, from high-resolution seabed mapping and inspection to autonomous data collection and remote operations.

Kraken’s product suite includes synthetic aperture sonar, side-scan and interferometric sonar arrays, laser imaging systems, and acoustic ranging sensors, as well as autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs).